City Dubai Financial News

₹265.4 crore, Christian Dior's slipped slightly to ₹257 crore from ₹265.7 crore in FY24, and Louis Vuitton's eased to ₹802.47 crore from ₹816.24 crore in FY24.In contrast, the more upmarket Hermès India, which caters to ultra-rich buyers, continued to expand, with revenue rising to ₹427.9 crore from ₹322.2 crore and net profit increasing to ₹83.7 crore from ₹72.7 crore. Swiss watches also outperformed, with sales rising to about ₹3,500 crore from ₹3,244.6 crore in 2024, according to the Federation of the Swiss Watch Industry FH.The divergence could be a sign of a broader market dynamic at play, say experts.

Indian rupee slid to a record low of ₹92.33 against the US dollar.While oil-marketing companies and air carriers will bear a direct brunt of the higher energy prices, others will face an indirect impact as oil prices feed into their input expenses. The Indian economy could take a hit if the inflationary effect of the conflict dents consumer demand.“India Inc will likely see a partial impact in the March quarter earnings for companies still operating on existing inventories, while the full effect could become more visible in the first quarter of the next fiscal year,” said Pramod Gubbi, founder of Marcellus Investment Managers, a portfolio management firm.If the Strait of Hormuz, through which a fifth of the global oil trade passes, remains closed for 2-6 weeks, it can push the three-month average Brent prices to $80-90, as per analysts at Nomura.

Every month, Mint Plain Facts brings out an update on key global data to thread together the biggest developments in the world that are worth paying attention to. The accompanying analysis and charts explain how each story is creating ripples on the global stage, where it is headed in the coming weeks, and whether it can impact India.Here are the five key global events:After US and Israel air strikes on 28 February killed Iran’s supreme leader Ayatollah Ali Khamenei, the West Asian nation has been fighting a high-risk survival war.It has responded to the US-Israel offensive, mostly targeting its capital, Tehran, by attacking nearly all nearby Gulf countries, widening the conflict.

e-Rupee, with total transactions of 120 million valued at ₹28,000 crore since its 2022 launch, central bank data till December showed. While retail CBDC can be used to pay other users, as well as merchants for goods and services, wholesale use cases include interbank settlements and large-value transactions.

Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.

Past conflicts in the Middle East typically hit India at the gas station. This time, the risks transcend oil, threatening everything from smartphone exports to New Delhi’s fragile finances.Flames have reached the United Arab Emirates, India’s second-largest electronics export destination after the US. Beyond being an entrepôt for regional trade, Dubai and Abu Dhabi are wealth hubs for the Indian elite.

In 2016, Pranav Doshi, then an executive with the Canadian consulate, decided to move 2,000 kilometres away from their home in Mumbai. Doshi’s wife was given an option to choose between Unilever Plc’s London and Dubai offices, and she picked the largest city in the United Arab Emirates. “We selected Dubai because we had a young child, and wanted family support; that was not possible in London,” said Doshi, 47.

MSMEs, accounting for about 45% of India’s total exports, any prolonged instability threatens not just margins but order continuity.“We are fortunate that our goods are not stuck in transit,” said Sushma Morthania, director at Shezar Technologies, which exports electronic components worth around ₹50 lakh each month. Nearly 40% of her shipments go to West Asia, Europe, and parts of Latin America via Dubai’s Jebel Ali Port.

Indian companies with operations in West Asia spent the weekend tracking their employees and gauging the impact on their businesses as the US-Israel strikes on Iran escalated the conflict, freezing movement from outside and within the region.“We are in touch with the client firms. The workers are safe.

Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.

When discussing Life Insurance Corporation of India (LIC) and penny stocks, it’s a classic case of ‘big money’ playing a very different game than the average retail investor.While LIC is famous for its blue-chip holdings, it actually maintains a long tail of low-priced stocks. However, low-priced stocks are sometimes not active buys but holdings that have eroded over years.Here are three penny stocks that LIC holds.

XED Executive Development, set to be the first company to list on the GIFT City exchanges after its upcoming IPO, has appointed a market maker for one year to address low liquidity on the exchanges.“We have appointed Evermore as our market maker and 5% of the issue has been set aside for market-making purposes,” Piyush Agarwal, chief executive officer of XED Executive Development, toldMint.XED, which provides leadership and management development programmes to senior professionals in over 25 countries, plans to raise $12 million through a dollar-based offering. It will be listed on the NSE International Exchange and the India International Exchange – in GIFT City – in the first week of March.As the first company to list on these exchanges, XED may initially face liquidity challenges.

Subscribe to enjoy similar stories. The language of diplomats is polite. That is especially true for those who speak Arabic, a tongue inclined towards courtesies and honorifics.

Subscribe to enjoy similar stories. Imagine owning a piece of a luxury apartment in Mumbai or a high-yield property in Pune with the same ease as buying a sachet of shampoo or a plate of dosa. This vision of "miniaturizing" wealth was in the spotlight at the Mint Money Festival 2026, held on 14 February in Mumbai.

Subscribe to enjoy similar stories. New Delhi: Saudi Arabia has surpassed Russia as India’s top oil supplier so far this month after a price cut, signalling New Delhi’s effort to reduce imports from Moscow after its trade pact with the US. Saudi Arabia shipped 1.13 million barrels per day (bpd) in the first 10 days of February compared to 1.09 million bpd by Russia, according to data from global ship tracking firm Kpler.

Subscribe to enjoy similar stories. Earlier this year, I was in Dubai—a city Indians now treat like the third long weekend of every quarter. I was travelling with a friend who had proudly picked up a “zero forex" travel card just before the trip.

Subscribe to enjoy similar stories. DUBAI—The U.S. military has assembled a formidable force in the Middle East within striking range of Iran.

Subscribe to enjoy similar stories. DUBAI—With a decision on military action on pause, the U.S. turned to economic pressure on Iran, rolling out a host of new sanctions on officials it said were responsible for the bloody crackdown on nationwide protests.

Subscribe to enjoy similar stories. It’s a familiar sight in the Indian hinterland—be it the lush green pockets of Kerala, the coastal belts of Konkan or the vast plains of Bihar and Punjab. You drive past rows of modest village homes and suddenly, you see it: A massive, three-storey, brightly painted concrete palace.

Subscribe to enjoy similar stories. Mumbai: Dharana Capital, which has backed startups such as Urban Company, Zomato, LAT Aerospace and Pet Pooja, has raised its second growth fund with a corpus of $250 million to continue investing in tech and consumer businesses in India. The investment firm will continue to back founders building large and standalone listed businesses, its founder and managing partner said.

Subscribe to enjoy similar stories. DUBAI—Iran’s 12-day war with Israel and the U.S. last June broke the regime’s carefully nurtured image of invincibility, many ordinary Iranians say.